从穿孔卡片到PC再到iPods

30年来,分销业发生了翻天覆地的变化有一句谚语说道:总有一些事情不会改变。然而,电子分销业几十年来却发生了翻天覆地的变化,即使是同样的概念,其应用范围、复杂程度和理解方法都与以往大不相同,以“货架共享”为例,20 世纪50年代和60年代,由于竞争激     

The effects of diversity on business performance: Report of the diversity research network

This article summarizes the results and conclusions reached in studies of the relationships between race and gender diversity and business performance carried out in four large firms by a research consortium known as the Diversity Research Network. These researchers were asked by the BOLD Initiative to conduct this research to test arguments regarding the “business case” for diversity. Few positive or negative direct effects of diversity on performance were observed. Instead a number of different aspects of the organizational context and some group processes moderated diversity‐performance relationships. This suggests a more nuanced view of the “business case” for diversity may be appropriate. © 2003 Wiley Periodicals, Inc.     

Convergence of utility functions and convergence of optimal strategies

In this paper we study the stability (in the L ^p as well as for the almost sure convergence sense) of the optimal investment-consumption strategy with respect to the choice of the utility function.Received: February 2003, The authors want to thank an anonymous referee as well as an associate editor for their useful comments and suggestions (in particular, the development on the speed of convergence). The authors also thank R. A. Dana for helpful discussions and W. Schachermayer for careful reading.     

Credit Unions and Small Business Lending

Among the issues raised by consolidation within the banking industry is a concern that small businesses will be less able to obtain credit as community banks are acquired by larger or non-local institutions. Community banks have traditionally been a major source of funding for small businesses. The impact of bank consolidation on credit availability may depend in part on whether the remaining community institutions expand their small business lending activities. This study examines whether credit unions have a propensity to extend business loans in markets that have experienced bank merger and acquisition activity. We find some evidence that credit unions are more likely to engage in business lending in markets characterized by greater bank merger and acquisition activity. Moreover, the estimated economic significance is meaningful in many of the specifications.

Employability enhancement through formal and informal learning: an empirical study among Dutch non‐academic university staff members

Although learning is generally perceived as a way to improve employees' current job performance, so far, no research has been conducted to explore the possible relationships between formal and informal learning, on the one hand, and employability, on the other. Though contemporary views stress the importance of the job as a powerful learning site, considerable research evidence underpinning these views is lacking. This paper goes into the impact of formal and informal learning upon employability. The influence of employee characteristics and organizational factors is also taken into account. An e‐questionnaire was used to collect data among 215 Dutch non‐academic university staff members. Our findings emphasize the necessity of Human Resource Development strategies that encompass a mix of formal and informal learning opportunities. In particular, participation in networks appears to be an important predictor for employability. With the outcomes of this study, we aim to contribute to the further development of theoretical insights regarding employability enhancement through learning possibilities embedded in the workplace. It seems that strategies that focus exclusively on enhancing informal on‐the‐job learning should not be encouraged. Our study is limited to one context and further research is required to investigate the generalizability of the findings to other occupations and/or countries.     

Derivative securities and cash market stability

This study investigates the effect of introducing interest-rate futures and options on the price variances in related financial cash markets. Standard research approaches to this issue relate cash-price stability before the introduction of futures and options trading to cash-price stability after trading in the derivative security begins. However, controlling for the additional factors that may also effect cash markets is difficult. The approach employed here to deal with this obstacle is motivated by recent theoretical research relating cash and futures markets, but hitherto not operationalized to empirically test for a relationship between the markets. Varying-parameter models of (1) the demand for short-term Treasury securities, (2) the demand for large time-deposits, and (3) the supply of large time-deposits are specified such that changes in the parameters imply changes in the volatility of the cash price. These parameters are modelled as functions of the trading volume of interest-rate futures and options, thereby enabling a direct test of the hypothesis that trading volume in these derivative securities influences the behaviour of cash-market participants, and therefore, cash-price volatility. We find no convincing evidence that the level of activity in interest-rate futures and options has a significant effect on these cash markets.     

Free admission to museums and monuments: an exploration of some perceptions of the audiences

• This paper considers the theme of the audiences' perceptions of free admission in national French museums and monuments. The results show that, from an individual perspective, perceptions of free admission are linked to perceptions of price, money and payment, hence complementing perceptions expressed in a collective perspective (a symbolic, political measure causing either adhesion or rejection). These perspectives are generally put forward by both advocates and opponents of the measure in their discussions. These different visions of free admission have managerial implications for managers of museums and monuments.

Copyright © 2007 John Wiley & Sons, Ltd.     

Is the Community Reinvestment Act in Need of Further Reform? Evidence from Equity Markets during the 1995 Reform Process

In May 1995 the Federal Banking Agencies adopted major reforms to the implementation of the Community Reinvestment Act (CRA) to make the examination process more objective and performance-based, promote consistency, and reduce regulatory burden. This study presents tests of excess stock returns around key events in the reform process and examines whether the patterns of returns were affected by financial institution type and size. While we find that portfolios of banks and thrifts recorded statistically significant excess returns for certain events, the cumulative response was mostly statistically insignificant. A policy implication of our findings is that the potential for further improvement in the administration of CRA requirements still existed following the 1995 reform efforts.